Deltek has formed a deal to acquire management services software company TIP Technologies, in a move aimed to result in a robust portfolio of offerings for the organizations’ aerospace and defense customers.
Specifically, the purchase of TIP Technologies will equip Deltek with quality management system and manufacturing execution system capabilities and help them serve government contracting organizations and engineer to order firms, the Herndon, Virginia-based company said Thursday.
The acquisition builds on an existing, ongoing collaboration between the two companies and is intended to “create a more effortless way for our customers to get the combined benefits of our collective solutions,” according to Mike Corkery, CEO and president of Deltek.
Corkery, who is a two-time recipient of the Wash100 Award, additionally stated that TIP Technologies’ QA and MES skill sets are well-matched to Deltek’s accounting, manufacturing and supply chain administration qualifications.
TIP Technologies has already successfully integrated its programs and tools with Deltek’s Costpoint platform.
The deal is expected to complete in the third quarter of 2022, barring certain conditions and criteria are met. The agreement stipulates that Deltek will assume ownership of TIP Technologies’ assets.
TIP Technologies is a Wisconsin-based business with an international reach. Their team introduced an integrated quality assurance software with a commercial, off-the-shelf strategy in the late 1980s and early 1990s that was considered ahead of its time. The acquired business already shares many clients with its buyer, including Qarbon Aerospace.
In May, Deltek and TIP Technologies completed a digital transformation project for Qarbon Aerospace, evolving the latter organization’s system architecture from a legacy solution SAP to Deltek Costpoint under the Project Bulldozer initiative.